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Article: Deutsche Bank Adds Mortgage Securities to On-Line Trading System.
- Article from:
- American Banker
- Article date:
- December 29, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The days of the frantic mortgage trader with a phone clamped to each ear may be numbered.
An on-line program that permits real-time trading for government markets is proving to be a popular, effective alternative to shouted phone orders for clients of Deutsche Morgan Grenfell, the firm says. Now it is using the system to trade mortgage securities too.
Deutsche Morgan Grenfell, a unit of Deutsche Bank, created the program to improve trading precision and to increase the execution speed of deals.
In a promotional video, the firm trumpets the opening of a new trading highway. According to the video, it takes traders and salespeople 38 seconds to seal a ...